Bitcoin / TetherUSUpdated BTC weekly
In weekly we have a bullish and a series of smaller bearnish fib channels still in play.
the bullish fib targeting -.236 at 126825 in a pullback with probable bounce back levels at .5 (15661), .618 (11199) and .65 (10226) still untouched.
and the cluster of 3 bearish fib channles with target of 23784 to 25009 zone and probable bounce back levels at .5 (43221 to 44109), .618 ( 47565 to 48310) and .65 (48817 to 49516) also still untouched.
so taking these bounce back levels into consideration, we have 3 possible entry or re-entry for bears and bulls at corresponding fib levels.
always setting stop loss at a quarter to one fifth of the probable profit.
funny to say obvious things but ....not a financial advice :)
the bullish fib targeting -.236 at 126825 in a pullback with probable bounce back levels at .5 (15661), .618 (11199) and .65 (10226) still untouched.
and the cluster of 3 bearish fib channles with target of 23784 to 25009 zone and probable bounce back levels at .5 (43221 to 44109), .618 ( 47565 to 48310) and .65 (48817 to 49516) also still untouched.
so taking these bounce back levels into consideration, we have 3 possible entry or re-entry for bears and bulls at corresponding fib levels.
always setting stop loss at a quarter to one fifth of the probable profit.
funny to say obvious things but ....not a financial advice :)
Note
as weekly cant change in a day, we take a look at the 4hr chart now.the latest fib formation suggest we are in a pullback from the last local high at 32858with possible reversal at our .5 (31016) , .618(30597) and .65(30484) .
target for bulls is 33764 and higher.
but if we fall these values we can fall deep as the descending triangle is upon us
as alway R:R ratio of 4 or 5.
thank you for viewing and giving your opinion.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.